Comments on: 7 Easy Ways to Get Filthy Rich Using Mutual Funds http://www.obliviousinvestor.com/7-easy-ways-to-get-filthy-rich-using-mutual-funds/ Investing Blog: The Oblivious Investor Tue, 07 Feb 2012 17:04:11 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Andrew Hallam http://www.obliviousinvestor.com/7-easy-ways-to-get-filthy-rich-using-mutual-funds/comment-page-1/#comment-4989 Andrew Hallam Mon, 15 Mar 2010 08:20:41 +0000 http://www.obliviousinvestor.com/?p=5474#comment-4989 The sad thing is that most people wouldn't have known that you were joking. Where I work, I've been trying to convince the administration to encourage an "index fund solution" for our employees saving for retirement. We have reps from Raymond James and those selling the U.S. based American Funds (charging front end loads of 5.75%) coming into our workplace, but I've struggled to convince the powers that be that these advisors sell inefficient products, especially after taxes. I'm a Canadian, but the expatriate Americans I work with are going to pay for their lack of knowledge when unnecessary taxes couple with weaker than market performances. We also have a Canadian broker selling high MER, back end loaded funds, who switches his investors from fund to fund, while his clients think he does that to make more money for them. I don't know if this drives you as crazy as it drives me. But I might need to take the Buddha approach, chill, and let capitalism look after itself. The sad thing is that most people wouldn’t have known that you were joking.
Where I work, I’ve been trying to convince the administration to encourage an “index fund solution” for our employees saving for retirement. We have reps from Raymond James and those selling the U.S. based American Funds (charging front end loads of 5.75%) coming into our workplace, but I’ve struggled to convince the powers that be that these advisors sell inefficient products, especially after taxes.
I’m a Canadian, but the expatriate Americans I work with are going to pay for their lack of knowledge when unnecessary taxes couple with weaker than market performances.
We also have a Canadian broker selling high MER, back end loaded funds, who switches his investors from fund to fund, while his clients think he does that to make more money for them.
I don’t know if this drives you as crazy as it drives me. But I might need to take the Buddha approach, chill, and let capitalism look after itself.

]]> By: The Rat http://www.obliviousinvestor.com/7-easy-ways-to-get-filthy-rich-using-mutual-funds/comment-page-1/#comment-4985 The Rat Sat, 13 Mar 2010 20:57:00 +0000 http://www.obliviousinvestor.com/?p=5474#comment-4985 I don't currently own any funds at all, but there are some ETFs out there that intrigue me. Interesting post. I don’t currently own any funds at all, but there are some ETFs out there that intrigue me. Interesting post.

]]> By: The Biz of Life http://www.obliviousinvestor.com/7-easy-ways-to-get-filthy-rich-using-mutual-funds/comment-page-1/#comment-4964 The Biz of Life Wed, 10 Mar 2010 14:54:55 +0000 http://www.obliviousinvestor.com/?p=5474#comment-4964 Excellent advice on how to lose your shirt. My favorite is buy every stock you get a cold call on....... I only wished it worked as well as the dart methodology for stock picking. Excellent advice on how to lose your shirt. My favorite is buy every stock you get a cold call on……. I only wished it worked as well as the dart methodology for stock picking.

]]> By: Daddy Paul http://www.obliviousinvestor.com/7-easy-ways-to-get-filthy-rich-using-mutual-funds/comment-page-1/#comment-4941 Daddy Paul Wed, 03 Mar 2010 19:28:31 +0000 http://www.obliviousinvestor.com/?p=5474#comment-4941 You missed the best one. Just buy one mutual fund. Make sure it is a sector fund and had a great return last year. You missed the best one. Just buy one mutual fund. Make sure it is a sector fund and had a great return last year.

]]> By: Monevator http://www.obliviousinvestor.com/7-easy-ways-to-get-filthy-rich-using-mutual-funds/comment-page-1/#comment-4936 Monevator Tue, 02 Mar 2010 21:20:13 +0000 http://www.obliviousinvestor.com/?p=5474#comment-4936 8. Manage a mutual fund. Actually, that method *does* work... 8. Manage a mutual fund.

Actually, that method *does* work…

]]> By: neal http://www.obliviousinvestor.com/7-easy-ways-to-get-filthy-rich-using-mutual-funds/comment-page-1/#comment-4933 neal Tue, 02 Mar 2010 14:59:46 +0000 http://www.obliviousinvestor.com/?p=5474#comment-4933 I love it! I love it!

]]> By: Larry http://www.obliviousinvestor.com/7-easy-ways-to-get-filthy-rich-using-mutual-funds/comment-page-1/#comment-4931 Larry Tue, 02 Mar 2010 03:30:27 +0000 http://www.obliviousinvestor.com/?p=5474#comment-4931 Cramer may act like a jerk on TV, but he isn't a jerk. He isn't a Boglehead either, but: Quote from an analysis by Henry Blodget: "After a lifetime of picking stocks, I have to admit that Bogle's arguments in favor of the index fund have me thinking of joining him rather than trying to beat him." http://www.slate.com/id/2158497/fr/flyout Written about Cramer: For most people, however, he advises low-fee stock index funds. http://www.portfolio.com/views/blogs/market-movers/2007/12/19/is-cramer-advocating-index-funds/ Cramer's own words: "You don't have the time or the inclination to build and maintain a portfolio. . . . What can you do instead? I've got a couple of options, none of them optimal, but all of them acceptable. First, you can get your diversity and beat almost every single mutual fund manager simply by buying shares in a stock index fund. . . . Vanguard pioneered the S&P 500 index fund and is the cheapest and best one I can find. "Why do most managers fail to beat index funds? Because it's a lot harder to manage a lot of money than it looks. If you manage a traditional mutual fund and you do well, you will soon be inundated with money, which will cause you to change your style and, over time, unless you are incredibly good, you will begin to mirror an index fund, except you will be charging your investors higher fees. "John Bogle, the most honest money manager in the business . . . ." Jim Cramer's Real Money, p. 198. Cramer may act like a jerk on TV, but he isn’t a jerk. He isn’t a Boglehead either, but:

Quote from an analysis by Henry Blodget:
“After a lifetime of picking stocks, I have to admit that Bogle’s arguments in favor of the index fund have me thinking of joining him rather than trying to beat him.”
http://www.slate.com/id/2158497/fr/flyout

Written about Cramer:
For most people, however, he advises low-fee stock index funds.
http://www.portfolio.com/views/blogs/market-movers/2007/12/19/is-cramer-advocating-index-funds/

Cramer’s own words:
“You don’t have the time or the inclination to build and maintain a portfolio. . . . What can you do instead? I’ve got a couple of options, none of them optimal, but all of them acceptable. First, you can get your diversity and beat almost every single mutual fund manager simply by buying shares in a stock index fund. . . . Vanguard pioneered the S&P 500 index fund and is the cheapest and best one I can find.

“Why do most managers fail to beat index funds? Because it’s a lot harder to manage a lot of money than it looks. If you manage a traditional mutual fund and you do well, you will soon be inundated with money, which will cause you to change your style and, over time, unless you are incredibly good, you will begin to mirror an index fund, except you will be charging your investors higher fees.

“John Bogle, the most honest money manager in the business . . . .”
Jim Cramer’s Real Money, p. 198.

]]> By: al23 http://www.obliviousinvestor.com/7-easy-ways-to-get-filthy-rich-using-mutual-funds/comment-page-1/#comment-4930 al23 Tue, 02 Mar 2010 01:48:19 +0000 http://www.obliviousinvestor.com/?p=5474#comment-4930 very funny! very funny!

]]> By: Investor Junkie http://www.obliviousinvestor.com/7-easy-ways-to-get-filthy-rich-using-mutual-funds/comment-page-1/#comment-4929 Investor Junkie Tue, 02 Mar 2010 01:21:42 +0000 http://www.obliviousinvestor.com/?p=5474#comment-4929 Great Advice! I'll start doing using as my investment strategy. Especially the one about watching CNBC. Such great stuff on that channel. Great Advice! I’ll start doing using as my investment strategy. Especially the one about watching CNBC. Such great stuff on that channel.

]]> By: Dylan http://www.obliviousinvestor.com/7-easy-ways-to-get-filthy-rich-using-mutual-funds/comment-page-1/#comment-4927 Dylan Mon, 01 Mar 2010 22:44:51 +0000 http://www.obliviousinvestor.com/?p=5474#comment-4927 You should run the exact same post tomorrow but change the title to, "7 Easy Ways to Lose Money Using Mutual Funds." You should run the exact same post tomorrow but change the title to, “7 Easy Ways to Lose Money Using Mutual Funds.”

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